Bill > SB0721

This bill modifies the Commercial Redevelopment Act by making several changes to how commercial facilities exemption certificates are handled. The bill allows local governments to issue commercial facilities exemption certificates for up to 12 years, with the ability to review and potentially extend certificates that are initially issued for less than the full 12-year period. A new provision allows applicants to submit amended applications if errors are discovered in the original application, with the local government able to issue an amended certificate with the same effective date as the original. The bill increases the number of state tax mill rate exclusions from 25 to 45 per year, which can help reduce unemployment and promote economic growth by providing tax incentives for business development. The reporting deadline for governmental units is changed from October 15 to June 15, requiring them to report on the status of each exemption, including property values and job creation. Additionally, the bill extends the deadline for granting new exemptions from December 31, 2025, to December 31, 2035, ensuring that existing exemption certificates will continue until their original expiration date. These changes aim to provide more flexibility and support for commercial redevelopment projects in Michigan.

Budget and Finance, Government Affairs

https://legislature.mi.gov/Bills/Bill?ObjectName=2025-SB-0721